Mary is age 33 and a single taxpayer with adjusted gross income for 2020 of $29,400. Mary maintains a home for three dependent children and has itemized deductions of $3,000. Calculate the following amounts for Mary's 2020 income tax return: a. The taxpayer status ( example: MFJ,MFS,HH) ___________________________________ b. Mary's standard or itemized deduction amount ____________________________________ c. Mary's taxable income ________________________________________________________________________________________________
Mary is age 33 and a single taxpayer with adjusted gross income for 2020 of $29,400. Mary maintains a home for three dependent children and has itemized deductions of $3,000. Calculate the following amounts for Mary's 2020 income tax return: a. The taxpayer status ( example: MFJ,MFS,HH) ___________________________________ b. Mary's standard or itemized deduction amount ____________________________________ c. Mary's taxable income ________________________________________________________________________________________________
Chapter1: The Individual Income Tax Return
Section: Chapter Questions
Problem 7P
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Mary is age 33 and a single taxpayer with adjusted gross income for 2020 of $29,400. Mary maintains a home for three dependent children and has itemized deductions of $3,000. Calculate the following amounts for Mary's 2020 income tax return:
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT